Posted by Stacy (AZ) on December 16, 1998 at 12:27:17:
The term is “tenants and toilets” (the reason I stopped being a landlord). You can still make money owning income property and contracting the maintenance, but it hurts your cash-flow, and makes it very important to buy very low and find good contractors.
There are other ways to make money in RE investing which don’t require the “T&T” hassles. Lease options, buying and selling rather than holding, flipping, rehabs, buying and improving “notes” (my current area of focus) are a few. Keep reading this News Group and News Group 1, all the “how-to” and “success stories”, and don’t forget the “Cash Flow Forum”. I would also highly recommend that you and your wife attend the CREO convention. You will get solid exposure to a wide variety of REI “niches”, and will be more able to select one that you feel fits your goals. You don’t have to be a landlord (thank goodness).